Where's Canada?

CLICK CHART TO ENLARGE

CLICK CHART TO ENLARGE

The charts from visualcapitalist.com show the global breadth and momentum increase in Chinese shipping. In 2006, only 3 of the top 10 ports were located in China. In 2019 that ratio grew to 7/10. Canada does not have any ports in the top 20 and according to 2015-16 StatsCan Data "the Chinese fleet, national & foreign flag combined, is ranked 3rd in terms of dead weight tonnage. Canada is ranked 29th."

A conversation with a neighbour inspired this post. 

Among other projections, the Neighbour thought that Canada is due for a big increase in manufacturing volume. I countered that thought with the reality of my chart on Household Debt which includes a plot of Federal Direct Investment which clearly shows that FDI has been negative for the last 20 years and the spread between investment into and out of Canada has grown much wider in the last 3 years to 2018 year-end.

That's a solid trend. We Canadians in less than a generation have become dependable and dependent (on China) consumers.  

​In my opinion, even if we can muster the societal will, it will take at least another new generation of Canadians to reverse the trend because after more than a decade of global ZIRP & NIRP and Canada's slide into becoming one of the most unaffordable countries to live in (Demographia), Canadians are up to their necks in household debt. 
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From: mortgagebrokernews.ca Sept 16, 2019

The Credit Counselling Society also reported that on average, Canadians are carrying a debt load of $30,000 each – far above the $12,000 level just 20 years ago.

“Canadians continue to rely on their credit cards or lines of credit to supplement costs of living,” CCS president Scott Hannah said.

“If the economy continues to slow amidst trade tensions and other factors, Canadians need to prepare now for a potential recession in the future.”

Hannah also cited the latest survey of employed Canadians by the Canadian Payroll Association, which found that 1 in 3 consumers currently hold credit card debt, and 38% will need more than a year to pay off said debt.

Additionally, 1 out of 3 Canadians indicated that their debt loads have increased since last year, and that they are spending more than their net income. As much as 43% are forced to live paycheque to paycheque, while fully 83% confessed anxiety over growing daily living costs.

“We are not surprised by these latest statistics, as we continue to hear from Canadians, who are having difficulty managing their rising debt levels and how to effectively manage the increasing costs of living without relying on credit,” Hannah stated.